MOSCOW, October 21. /TASS/. Russian stock indices ended the trading session on Monday with an upward trend, according to market data.
The ruble-denominated MOEX Russia Index edged up by 0.54% to 2,766.7 points. The dollar-denominated RTS Index added 0.91% to 907.34 points. The yuan ticked up by 0.88% to 13.5 rubles over the day.
"The ruble weakness and growing commodity prices, including oil, promoted buying. In part, as it often occurs on Monday, the demand postponed from the end of the last week due to the concern of certain negative news to be materialized, may also have its effect," Alexander Shepelev from BCS Investment World says.
Commodities and Chinese exchanges responded by growth to the decision of the People’s Bank of China to slash base interest rates to 3.1% for loans mature in a year and to 3.6% for loans with the term over five years. The sentiment was more restrained on European and US platforms.
This week is likely to predominantly have side dynamics in the light of the upcoming meeting of the Bank of Russia, while the prices already cater for the scenario of key rate growth to 20%, BCS Investment World said. The company forecasts the MOEX Russia Index as within 2,720-2,820 on October 2022.
Freedom Finance Global expects the MOEX Russia Index to be in the range of 2,750-2,770 points. No important corporate news are expected in the Russian market.